Hollywood producer Brian Grazer is set to marry for a fourth time after getting engaged to girlfriend Veronica Smiley, who once dated funnyman John Cleese.

Oscar-winner Grazer, 62, is reported to have popped the question on the roof of the Huntley Hotel in Santa Monica, California on Saturday evening.

But the proposal almost ended in disaster when Grazer misplaced the ring just moments before he hoped to present it to his bride-to-be.

Hollywood producer Brian Grazer is set to marry for a fourth time after getting engaged to girlfriend Veronica Smiley on Saturday

‘Somehow, the ring fell out of Brian's pocket. After a frantic search he found it, but only because it was such a big diamond, it didn't fall through the slats on the wooden floor,’ a source told the New York Post.

Smiley, 40, who is chief marketing officer of hotel management company SBE, has accepted and the couple are now planning their wedding.